To The
Editor
City Of Eureka Quality Of Life Report - Eureka Downs
This report was generated by members of the City Council based on the Greenwood County Community Center meeting (GCCC) and approved for publication during the council’s last regular meeting.
The Fair board has received $1,000,000 to begin the capital improvements at Eureka Downs. There is another $1,000,000 available when the first million is spent. GCCC and Eureka Downs finances are coming into clearer focus. Currently, the city and county have been paying the operational expenses for the GCCC. This is estimated to be approximately $30,000 per year. If this amount were borne equally between the city and the county, that would be $15,000 each. Racing is to begin in 2026, but if renovations took longer and racing began in 2027, it would mean approximately three more years before cash flow from racing began. This would mean that operational expenses would need to be funded for three more years before revenue could begin paying the expenses. After racing begins, the GCCC facility can support itself which means there will be fiscal relief for both the city and county in three years.
Why should the City and the County fund GCCC for three more years?
The present condition of the Eureka Downs including the Greenwood County Community Center is poor. The track needs improvements, the building roof leaks, much of the facility has no air conditioning, the entire HVAC and electrical needs replacing and the list goes on and on. But the Fair Board has received a grant for $2 million and they have already received half of those funds to begin renovations. Once the improvements are completed the value of the facility is estimated to be $2.3 million. If the city and the county can fund the operating expenses for three more years, Greenwood County and Eureka will get a renovated facility worth $2.3 million for just funding three years of operating expenses of $90,000 ($30,000 over three years). But this is not the end of the financial story. There is a real possibility of more grants. Conversations are in the works for more grants. So, should the county and the city fund the GCCC operating expenses for three more years? Does it make sense to spend $90,000 and get a $2.3 million facility? In Eureka, we know what happens to buildings that are not maintained. Eventually they become worthless. Yes, it makes financial sense to get behind the Eureka Downs and GCCC project.
Why should we support a horse racing facility?
The Eureka Downs Complex is comprised of two separate properties, the Greenwood County Community Center (GCCC the building) and the racetrack and outdoor seating area. Horse racing may use the facility for approximately 10 weeks annually. For the rest of the year, the building is available to be used as a community center for weddings, parties, celebrations, meetings, conferences, concerts, entertainment and etc. Once GCCC is used as an event center it brings outside revenue to the city and the county in the form of sales tax revenue. Beyond tax revenue, it brings outside revenue to local businesses. Not only does the event center bring outside revenue to the city and county, but horse racing also increases revenue for the city, county and local businesses. The entire Eureka Downs complex can be an economic boost to the city, county and local business.
Is there anything else?
The Greenwood County Fair, 4H, Rodeo, Cattlemen, Circuses and other community events all use the Greenwood County Community Center, even in its poor condition. All these local organizations (the community!) benefit from these improvements. In order for all these good things to happen all parties have to work together.
-submitted by the Eureka City Council,
Cinda Beals, Jason Brandt, Dan Campbell, Richard Drake, Kevin Lawrence and Jeff Marks
